FX.co - EUR/USD analysis for June 03 2021 - Potential for the drop towards 1.2135

2021-06-03T08:52:41

Relevance until2021-06-04

Technical analysis:

EUR/USD analysis for June 03 2021 - Potential for the drop towards 1.2135

EUER has been trading downwards as we expected. There is still potential for the drop towards the level at 1.2135.

Trading recommendation:

Due to successful rejection of the recent swing high and the downside channeling mode, watch for selling opportunities on the intraday rallies.....

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Key resistance is set at 1.2240

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for June 03 2021 - Potential for the drop towards 1.2135